Manage your cryptocurrencies easily and safely
Oxis excels in user experience while maintaining and innovating on security standards that make cryptocurrencies unique.
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Oxis excels in user experience while maintaining and innovating on security standards that make cryptocurrencies unique.
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Oxis strives to balance security with ease of use. Our unique security solutions allow you to recover your private keys if your password is forgotten, all while the Oxis team never has access to them.
Start HereOxis seeks to eliminate the technical barriers that exist to use cryptocurrencies. Our approach keeps our communitiy from forgetting the principles of security, while providing a solution to assist users in controlling their private keys.
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Oxis uses a security system that seeks to bring the simplicity of online finances to users without neglecting the advantage cryptocurrencies bring to people who desire true financial autonomy.
When a user creates an account in Oxis, a public key and a private key are generated. The private key is the most important one, and should not be shared with anyone . "He who has access to the private key, has access and control over the funds associated with it". You should never share your private key with anyone. Oxis does not have access to your private keys.
Oxis encrypts your private key with SHA-256 using the password chosen for your account. This hash is stored in three different distributed locations through IPFS. It is impossible to access any private key without the associated password that it has been hashed with. In turn, Oxis prompts account holders to provide answers to three secret questions, which are then used to encrypt the password set at the time of your Oxis account creation . The password is encrypted using the Bcrypt algorithm. These three responses are also logged and saved in three different locations. Through this system, if a password is forgotten, a user will be able to recover their account using the answers to the security questions.
If your password and security questions are forgotten, there is no way to recover the associated private key, and thus, access to the account and funds inside. It is important to keep your password and the answers to your chosen security questions safe and secure, the same way you would protect physical gold or money. Oxis has an article that can assist you in recommendations to do this safely here.